Should the rich live in the outskirts?

As a norm, real estate development in India that caters to the lower segment of the society has been concentrated towards the outskirts of the city. This is largely because land is economical only in the peripheries of a city and it is the sole factor that makes constructing affordable houses viable for developers.

However, the repercussions of having these units in the outskirts have started becoming visible across cities. A large number of housing units, priced upto Rs 20 lakh, are lying vacant for want of users. While these units meet the need of the buyers in terms of affordability, lack of developed physical and social infrastructure keeps them away.

Data with Magicbricks also highlights this irony. For instance, this trend is particularly common in southern cities such as Chennai and Hyderabad, where properties priced upto Rs 20 lakh is over-supplied by 17-23 per cent.

Even in cities such as Delhi, ready housing units built by DDA in farfetched locations such as Narela and Bawana are lying vacant. These locations offer no means of travel to those who cannot afford a personal vehicle.

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About Us

MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.

Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.